How to Invest in Bitcoin, Ethereum and Other Cryptocurrencies

All right, so you're saying, "Hey Ian, "you got me hyped, super hyped "I'm definitely down to invest some money on "cryptocurrencies like bitcoin and ethereum, what have you

"Where do I start? "How do I start?" So, the first step to start, especially if you're a beginner, is a site called Coinbase This makes it very, very easy for anybody out there to buy and sell cryptocurrencies This is meant for beginners So, if you go to Coinbasecom and create an account, you can verify your account, link it up to your bank account, and buy money, and buy basically bitcoin, ethereum, and litecoin

Those are the three currencies they have on there, the three cryptocurrencies they have You can purchase them either with your debit card, tied to your bank account, or a credit card, even But, one thing about Coinbase, though, is it has higher transaction fees than normal bitcoin or cryptocurrency sites because it's meant for newbies But, with that being said, though, it's very, very user friendly It's how I began my journey in cryptocurrencies, and it's a great place to start

Now, one thing to note is, if you actually go on my website and sign up using my link, you and I will both get $10 worth of bitcoin, cryptocurrencies, in terms of bitcoin, litecoin, what have you, to invest if you invest $100 So let me say that again So, if you wanna start, and you wanna put $100 into it, Coinbase, as a way to kind of entice you to kind of learn the system and get more involved, they'll give you $10 as well But to do that, you have to sign up using my affiliate link So if you sign up using my affiliate link, you and I both get $10

What a deal, right? All right, so let's say you aren't really a beginner, and maybe you've done investing before, and you don't want something that's super easy Maybe you want to day trade, for example Two good platforms for day trading are GDAX, which is an exchange owned by Coinbase It's kind of for more advanced people And also Gemini

These two are basically exchanges that let you day trade cryptocurrencies And mainly just the popular ones like bitcoin, ethereum, and litecoin So, if you want to day trade, you could use those platforms They're better than Coinbase in the sense that you have a lot more control You can do things such as stop limit orders

They also have fewer transaction fees Much, much lower transaction fees But it's kind of more complex You have to have some kind of experience investing So I would recommend using something like Coinbase to start

Use that as training wheels, then go on GDAX or Gemini and use that as a way to kind of, once you've mastered or gotten a handle on things, to start doing a lot more complicated things, more complex things Now, so we've talked about bitcoin, ethereum, are the main two currencies out there, the two main cryptocurrencies, but there are over 100 cryptocurrencies out there, over 100, and new currencies are coming up every single day And actually, I think it's a lot more profitable to find the smaller currencies, 'cause they have a lot more growth potential 'Cause bitcoin has gone from being worth pennies to being worth $1,200 So, in terms of growth potential, it could go to $2000, it could go to $10,000, even $5000

But it's gonna get there a lot slower than these currencies right now that are in the pennies on the dollar So think of altcoins, alternative coins, as similar to trading penny stocks So, for those who have done investing before, penny stocks are basically stocks worth under a dollar or so, almost pennies, that you can buy very, very cheap, and if they go up, they can double just like that So, for example, recently I doubled my money with ripple, which is a cryptocurrency as well, but this is used more for banking 'Cause it was worth in the pennies on the dollar

And when they go up two pennies, maybe if it's 50 cents it goes to a dollar, you can double your money like that So, in general, if you wanna trade altcoins, the exchange I use is called Poloniex Don't know how to pronounce it I just call it Polo for short, right? But if you go to Poloniex, Polo, they have tons and tons of cryptocurrencies out there, tons of them, from stratus to ripple to dcred Not every currency, but the popular ones out there that you wanna invest in, and leverage, and make a profit on, are available on Polo, as opposed to going to Coinbase, GDAX, and Gemini, 'cause they only cater to the top three cryptocurrencies

Everything else, the altcoins, I would go to Polo and find them there But one thing to note is Polo won't let you buy anything with fiat money So you can't buy it with dollars It's only an exchange It can only exchange money

And their standard universal currency is bitcoin So what I do is I buy my money, I mean I get my bank account and buy bitcoin or ethereum, but generally bitcoin 'cause it's a lot easier to work with I buy bitcoin on GDAX, then I transfer that to my bitcoin wallet on Polo, and I use that to trade and make day trades moving in and out of different currencies Then once you're done, you cash out from that currency, converting back to bitcoin Then from bitcoin, you send that bitcoin back to GDAX and you cash out

It's kind of complex, it's kind of a roundabout way of doing things It definitely adds a barrier of entry But that barrier of entry makes it a lot more profitable to make money, 'cause not everybody's making money with it But sometimes you don't even have to cash out So, for example, recently I sold a portion of my investment to transfer that money to an offshore bookie so I could gamble on March Madness with bitcoin

And the casino, the online broker, I mean, the online bookie accepts bitcoin, which is pretty cool, right? 'Cause it was a lot faster to send my bitcoin from Polo or GDAX, as opposed to calling them or tying my credit card to that It kind of gives me that mix of fluid And it's kind of anonymous, kind of anonymous I say that because all these exchanges nowadays force you to verify your account, your information in terms of your bank account, your ID, where you live, all that So it's not truly anonymous

But if you're dealing with anybody out there, peer to peer, you can be anonymous, 'cause that's what cryptocurrencies let you achieve All right, so I gave you guys a lot of game If you wanna do any further study or research on cryptocurrencies like bitcoin, ethereum, and altcoins, a good place to start that I recommend is to check out a book called Digital Gold This is one of the best books I've read on bitcoin, and it basically walks you through the starting of bitcoin, from the founder in Japan, all the way through the history of the major key players in the history of bitcoin, and how it grew And also it shares the story and talks about how people became millionaires with bitcoin

So it's a very, very great story Check out the book Digital Gold I have the link available on my website, and I also put it in the video as well All right, I gave you guys a lot of game, I mean a ton of game And you guys, I've showed you how it's possible to go out there and possibly become a millionaire

Just to kind of be candid with you guys, I myself, right now, have about $10,500 invested in cryptocurrencies And I began investing around end of November, early December And I didn't start early I didn't just go out there and put in 10 grand I began small

I first began things off with $100 in bitcoin and $100 in ethereum So I took a fly on it I was like, here, you know what? Let me just throw $200 at it and see what happens And I noticed, hey, I'm up about 25% in a month Not bad, right? So I put about $250 each in both ethereum and bitcoin again to see how things were going

Then I noticed, I was like, hey you know what? I just doubled my money, 'cause ethereum went from $10 to $20 in about two months I'm like, not bad, right? Then once I saw ethereum was taking off, I came back, put in $2500 in ethereum and $2500 in bitcoin And ethereum doubled in about a month and a half My $2500 went from being worth $2500 to over $5000, to a point I actually sold that off at about $5500 So I more than doubled my money in about a month and a half

Then from there, after I kind of learned the ropes, I then moved my money from GDAX to Polo, 'cause with Polo I could do a lot more day trading, a lot more trading with altcoins So right now, my portfolio, 'cause I don't wanna seem like I'm making money like that, right? 'Cause I ain't got it like that, but the potential is there My initial investment of $10,500 is now worth about $13,000, give or take Some profits, some losses But that's been in about three months or so, so it's not bad, right? But right now, the last couple of months, growth has slowed down, mainly being because bitcoin is going through a major scalability issue

I don't know if you guys have heard about this You can do your own research on this It's too in-depth for this video, 'cause this is not for beginners, but bitcoin is thinking about doing a split, basically splitting the currency and doing a hard fork, something called segwit and bitcoin unlimited So once this whole debate has been resolved, then bitcoin, I think, is gonna take off and continue to take off, 'cause right now it's been kinda stagnant So, that being said, I've given you guys a lot of game

Go out there and check it out Let me know what you guys think I'll be dropping an in-depth blog post on my website explaining a lot more about how to possibly become a millionaire with bitcoin, and cryptocurrencies in general With that being said, though, I am definitely, definitely not a financial advisor This is not financial advice, this is infotainment

Invest at your own risk, at your own peril But with that being said, though, let's get this money

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